Skillsoft shareholders elect directors and approve proposals at annual meeting

Skillsoft Corp. (NYSE:SKIL), an education technology company currently trading at $15.89, reported the results of its 2025 annual meeting of stockholders held Thursday, according to a statement based on a recent SEC filing. According to InvestingPro analysis, the company appears undervalued despite experiencing a significant 51% decline in share price over the past six months. For detailed insights into Skillsoft’s valuation and 10+ additional expert tips, explore InvestingPro’s comprehensive analysis.

At the meeting, shareholders voted on four proposals. Three Class I directors—Ronald W. Hovsepian, Jim Frankola, and Peter Schmitt—were elected to serve three-year terms. Hovsepian received 5,588,152 votes in favor and 44,650 votes withheld. Frankola received 4,976,531 votes in favor and 656,271 votes withheld. Schmitt received 5,573,291 votes in favor and 59,511 votes withheld. Each director also had 771,145 broker non-votes. These elections come at a crucial time for Skillsoft, which maintains impressive gross profit margins of 75% despite challenging market conditions.

Shareholders also approved, on an advisory basis, the compensation of the company’s named executive officers, with 4,056,515 votes for, 1,575,694 against, and 593 abstentions. There were 771,145 broker non-votes on this proposal.

On the advisory vote regarding the frequency of future advisory votes on executive compensation, 5,580,859 votes were cast for holding the vote every year, 111 for every two years, and 51,058 for every three years. There were 774 abstentions and 771,145 broker non-votes.

The appointment of Ernst & Young LLP as Skillsoft’s independent registered public accounting firm for the fiscal year ending January 31, 2026, was ratified with 6,402,665 votes for, 626 against, and 656 abstentions.

A total of 8,482,641 shares of Class A Common Stock were outstanding as of the record date, May 19, 2025. At the meeting, 6,403,947 shares were present in person or by proxy, representing approximately 75.49% of the outstanding shares and constituting a quorum.

The company stated that the board will consider the results of the advisory vote on the frequency of executive compensation votes at a future meeting and will file an amendment to the current report once a determination is made.

All information is based on a press release statement and the company’s SEC filing.

In other recent news, Skillsoft reported its financial results for the first quarter of 2025, revealing a 2.8% year-over-year decline in total revenue to $124.2 million. However, the company’s Talent Development Solutions (TDS) segment demonstrated resilience, with revenue increasing by 1% to $99.1 million, marking three consecutive quarters of growth. The company’s adjusted EBITDA improved to $22.1 million, up from $18.9 million the previous year, while free cash flow saw a significant rise to $26.2 million. Skillsoft’s strategic focus on AI and product innovation, including the expansion of AI capabilities and new product launches, has contributed to its differentiation in the market. The company also experienced a reduction in Global Knowledge revenue, which dropped by 15.7% year-over-year to $25.1 million, primarily due to a decrease in U.S. public sector discretionary spending. Despite these challenges, Skillsoft maintained its full-year revenue guidance of $530 million to $545 million and adjusted EBITDA guidance of $112 million to $118 million. The company has also made strategic leadership changes, with John Frederick appointed as the new Chief Financial Officer and Rayann Reese as the Chief Marketing Officer, to enhance its go-to-market strategy.

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